As of May 10, 2025, Bitcoin ($BTC ) is trading at approximately $103,223, reflecting a significant surge in value. This upward momentum is attributed to several factors:
•The announcement of a comprehensive trade deal between the United States and the United Kingdom has bolstered investor confidence, leading to increased demand for risk assets like Bitcoin.
The rapid price increase has triggered the liquidation of nearly $400 million in short positions, further accelerating Bitcoin's ascent as traders cover their positions.
Bitcoin is approaching key resistance around $104,000. A decisive break above this level could pave the way toward retesting its all-time high near $109 ,000
Immediate support is observed around $96,000, with stronger support near $90,000.